1inch (1INCH) – A leading DeFi aggregator, which serves as a one-stop shop for decentralized finance investors
inSure DeFi (SURE) – With growing number of hacks and scams, the project provides much needed insurance cover for investors
Quickswap (QUICK) – As Polygon grows, the decentralized exchange will also witness upside in trading volumes.
Klima DAO (KLIMA) – Carbon credit backed tokens that provide an attractive APY on staking
Source: WHYFRAME / Shutterstock.com
After struggling around $40,000, it finally seems that Bitcoin (BTC-USD) will break-out on the upside. Currently, the cryptocurrency trades above $46,000 and there are ample reasons to be bullish on Bitcoin. A rally for the leading cryptocurrency would also imply another possible bull market for altcoins. In a market that’s flooded with coins and tokens, investors need to pursue significant due diligence. This column will focus on four cryptos to buy that are non-speculative projects and are worth holding for the long-term.
Coming back to Bitcoin, El Salvador is already the first country that has adopted the cryptocurrency as a legal tender. There is also a possibility that few other smaller countries like Cuba and Panama will accept Bitcoin.
The rise in geo-political tensions has also underscored the importance of digital assets. Ukraine has embraced cryptocurrencies, more than ever before, in response to the war. Russia might also be considering accepting Bitcoin as payments for oil and gas exports.
Overall, it seems clear that cryptos will stay and the adoption will increase globally in the next few years. In the altcoin space, there are crypto projects that are similar to investing in an early-stage company.
Let’s discuss four cryptos to buy that can be potential multi-baggers.
Cryptos to Buy: 1inch (1INCH)
Source: eamesBot / Shutterstock
With wider adoption of cryptos, decentralized finance is likely to get bigger in the coming years. Currently, the total value locked in decentralized finance is around $190 billion. One way to benefit from the growth in DeFi is through exposure to decentralized exchanges like Uniswap (UNI-USD).
Another good idea to benefit from the growth of DeFi is to consider exposure to quality projects that serve as DEX aggregators. 1inch (INCH-USD) would top that list. It’s worth noting that the token traded at highs of $8.65 in October 2021. With a downside of 77% from highs, 1INCH looks attractive for accumulation.
The company has two key products. First, an app that serves as a tool for deepest liquidity, lowest slippage and best exchange rate. Further, the project has a wallet that’s a highly protected mobile app for DeFi operations.
Additionally, 1inch provides features that includes limit orders. It’s also worth noting that the app has bridges across various chains. In simple words, 1inch is a one stop-shop for all decentralized finance traders. As DeFi grows, the trading volumes will swell on the project.
Overall, 1INCH token looks attractive for multi-fold returns with an investment horizon of 12 months-24 months. It’s among the top non-speculative projects that investors can hold in the portfolio.
inSure DeFi (SURE)
Source: WindAwake / Shutterstock
At a current market capitalization of $178 million, the inSure DeFi (SURE-USD) project is another name that’s worth considering. With a significant increase in the number of hacks and scams, the project has strong utility.
As an overview, the project claims to be the first DeFi insurance system. In order to avail the benefits of SURE token insurance, investors need to acquire the token with insurance being activated in seven days.
There are different levels of coverage. At the most basic level, an investor can hold 2,500 SURE tokens. This provides an insurance coverage of up to $1,000 for a period of four months. At the diamond subscription level, holding 500,000 tokens would give investors a coverage of two years for a maximum amount of $140,000.
In addition to potential for token price upside, investors can also stake SURE token for an APY of 60%. For a token with a strong utility, this seems attractive.
I am also bullish on the projects long-term plans. Through 2025, the team has guided for entry into the traditional insurance space. This would include automobile, life, home ownership and travel insurance, among others. The project therefore has ample scope for expansion into a bigger addressable market.
Cryptos to Buy: Quickswap (QUICK)
Source: Marko Aliaksandr/ShutterStock.com
With the massive growth in Polygon (MATIC-USD), I would not hesitate in considering exposure to Quickswap (QUICK-USD) project.
As an overview, Quickswap is a decentralized exchange on the Polygon network. The exchange allows users on Polygon to trade through the liquidity pool.
QUICK token had surged to highs of $1,590 in April 2021. At current levels of $226, the token seems very attractive. Currently, the project has a fully diluted valuation of $240 million. However, the total value locked on Quickswap is $896 million. This implies a fully diluted valuation to TVL ratio of 0.27. Clearly, the project seems undervalued.
To elaborate further, Uniswap has a fully diluted valuation to TVL ratio of 4.6. On a relative basis, QUICK seems to have more upside potential from current levels.
In addition to providing token swapping, Quickswap also has some attractive farms. Investors can deposit QUICK tokens to earn an attractive APR on various participating tokens. Quickswap also provides incentive for liquidity providers who can earn a 0.25% fee on all trades proportional to their share of the pool. As trading volumes on Quickswap increase, liquidity provider returns are likely to get attractive.
Overall, QUICK token has witnessed a significant correction from all-time highs. With renewed upside in the crypto space, it’s among the top cryptos to buy for healthy returns and passive income.
KLIMA (KLIMA-USD) token is another name among cryptos to buy with a focus on environmental change. Recently, the token touched lows of $10.7. The token has already surged by over 100% from lows. Accumulation can be considered even at current levels.
As an overview, Klima is a decentralized autonomous organization with each token being backed by real carbon assets. As of February 2022, Klima DAO had more than 16 million carbon tonnes in its treasury. This had a value of $64 million.
From an investment perspective, the DAO sells bonds and distributes profits to Klima token holders. The profits to holders come in the form of staking and rebase. Currently, Klima tokens can be staked at an APY of 942%. The minting of each KLIMA token is backed by at least one ton of carbon offsets.
Given the aggressive dilution, there is a case for Klima trending lower. However, investors stand to gain with healthy growth in carbon tonnes and the price upside in the carbon credit market.
Overall, Klima DAO has a vision of becoming a global carbon currency. The project seems attractive with a long-term investment horizon.
On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.